Milwaukee-based PACE Equity provided $22.5 million in C-PACE financing for Sixty DC, a new energy-efficient hotel in the Dupont Circle neighborhood of NW Washington, D.C.
C-PACE funding, provided by PACE Equity, financed the installation of a highly efficient HVAC system, improved insulation, LED lighting, and water-efficient fixtures that will save nearly $50,000 in annual utility costs. The hotel is expected to create nearly 150 hospitality jobs.
Sixty DC is a 73-key boutique hotel located at 1337 Connecticut Ave NW. The 44,076-square-foot property was formerly home to The Gryphon, a bar and restaurant that shuttered in 2020.
“The benefits of PACE financing go far beyond providing low-cost, strategic capital — it is a funding solution that helps make developments like Sixty DC happen,” said Beau Engman, president and founder at PACE Equity. “
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